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Is Ecopetrol (EC) Outperforming Other Oils-Energy Stocks This Year?

Zacks Equity Research
Updated
Best Buy (BBY) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Investors focused on the Oils-Energy space have likely heard of Ecopetrol (EC), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of EC and the rest of the Oils-Energy group's stocks.

Ecopetrol is one of 331 companies in the Oils-Energy group. The Oils-Energy group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. EC is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for EC's full-year earnings has moved 19.03% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Our latest available data shows that EC has returned about 69.04% since the start of the calendar year. At the same time, Oils-Energy stocks have gained an average of 4.76%. This means that Ecopetrol is performing better than its sector in terms of year-to-date returns.

To break things down more, EC belongs to the Oil and Gas - Integrated - Emerging Markets industry, a group that includes 4 individual companies and currently sits at #2 in the Zacks Industry Rank. Stocks in this group have gained about 40.96% so far this year, so EC is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to EC as it looks to continue its solid performance.


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Zacks Investment Research